PRE US OPEN, DAILY TECHNICAL ANALYSIS, 03 OCTOBER 2011 EUR/USD GBP/USD USD/JPY AUD/USD GOLD CRUDE OIL Please note that due to market volatility, some of the below sight prices may have already been reached and scenarios played out. EUR/USD INTRADAY: UNDER PRESSURE. Pivot: 1.341
Most Likely Scenario: Short positions below 1.341 with targets @ 1.331 & 1.326 in extension.
Alternative scenario: Above 1.341 look for further upside with 1.3465 & 1.3525 as targets.
Comment: The pair is posting a rebound but stands below its new resistance.NEXT » GBP/USD INTRADAY: THE DOWNSIDE PREVAILS. Pivot: 1.56
Most Likely Scenario: Short positions below 1.56 with targets @ 1.549 & 1.5445 in extension.
Alternative scenario: Above 1.56 look for further upside with 1.566 & 1.571 as targets.
Comment: The pair stands below its new resistance and remains under pressure.« PREVIOUS | NEXT » USD/JPY INTRADAY: UNDER PRESSURE. Pivot: 77.1
Most Likely Scenario: Short positions below 77.1 with targets @ 76.7 & 76.5 in extension.
Alternative scenario: Above 77.1 look for further upside with 77.3 & 77.6 as targets.
Comment: The pair is under pressure and is challenging its support.« PREVIOUS | NEXT » AUD/USD INTRADAY: KEY ST RESISTANCE AT 0.976. Pivot: 0.976
Most Likely Scenario: Short positions below 0.976 with targets @ 0.9575 & 0.95 in extension.
Alternative scenario: Above 0.976 look for further upside with 0.981 & 0.9875 as targets.
Comment: The RSI is capped by a declining trend line.« PREVIOUS | NEXT » GOLD (SPOT) INTRADAY: THE BIAS REMAINS BULLISH. Pivot: 1627.00
Most Likely Scenario: LONG positions above 1627 with 1670 & 1690 in sight.
Alternative scenario: The downside penetration of 1627 will call for 1590 & 1555.
Comment: The RSI advocates for further upside.« PREVIOUS | NEXT » CRUDE OIL (NOV 11) INTRADAY: THE DOWNSIDE PREVAILS. Pivot: 79.70
Most Likely Scenario: SHORT positions below 79.7 with 77.4 & 76.5 in sight.
Alternative scenario: The upside penetration of 79.7 will call for a rebound towards 81.5 & 84.
Comment: The upward potential is likely to be limited by the resistance at 79.7.